HB 1731 Summary

• Authorizes issuance of $10,000,000 in state general obligation bonds for the ACE Fund administered by the Mississippi Development Authority.

• Increases authorized general obligation bonds under the Mississippi Business Investment Act by $7,000,000 (from $351,500,000 to $358,500,000) and increases bond proceeds available for equipment and public facilities grants/loans by $7,000,000 (from $58,100,000 to $65,100,000).

• Increases authorized general obligation bonds under the Mississippi Major Economic Impact Act from $67,000,000 to $68,000,000 for projects designed to enhance military installations at risk for closure.

• Creates the Mississippi Site Development Grant Program to provide grants to municipalities, counties, and economic development organizations for improving marketability of publicly owned industrial property; authorizes $2,000,000 in bonds for this program.

• Authorizes $10,000,000 in general obligation bonds for the Small Municipalities and Limited Population Counties Fund to assist communities with infrastructure, equipment, and facility projects.